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Although I do not really like to call tops because we are in a major bull market, this market is ready for a correction. Here are my reasons. The last few days Russell has been underperforming SP. Utilities unable to make a new high. Bonds are back to where it broke-out from. It is...

No positions here. I'm going on a vacation. Will update it after Jan 3rd.

Jeff: That's not how I trade. Just because this market is in an uptrend is no good reason to "not" have a stop. In the last 4 months it has certainly seemed as if all long trades have made money but the market can turn on a dime. I am basically trading the trend and momentum. If I enter and the...

I never short SPY, if I have to short I'll use ES. With regards to SPY, if I'm bearish then I'll go to cash and wait for another opportunity.

I exited with a profit of 1 pt. in SPY. I do not really like to stay with a long position if the Russell and Nasdaq underperform the SP. I have tested and traded this strategy for a while and I have been making money. Most of my losses were when I was trading ES not SPY. Here is when I'll get...

Exit: 141.65

Serious Negative divergence between SP/Nasdaq and SP/Russell. Time to get back in cash.

Like I had said, there was no sell-off in the first half hour, I went long SPY at 140.60 and long ES at 1405.75. ES started selling-off after that so I decided to get out at 1401.75 (which ended up being the low too). I have my stop at 139.60 on the SPY. If today is a valid break-out then SPY...

One thing that I noticed today is that my futures trades would have ended up much better if I were not to go against my stock trades. What I mean by that is, I was long SPY going into this morning but when I noticed Nasdaq and IWM underperforming SPY, I got out with few cents profit. Usually on...

After we broke the intra-day support around 2.30 est, I thought the market would go down much lower. If we do not see sell-off on Monday (in the first half hour), I'm going long.

Stop move to 1402.

Daytrading Set-up: If I was day-trading, I would short here (1400) with a 4 pt. stop and close at eod.

Exit: 140.46. No positions.

I initially started this journal as "What I learned from my mentor" but decided to change the title after that. But let me tell you what he told me in those few years when I worked for him. Non trading related stuff (that applies to trading too): 1) Be organized 2) Have patience 3)...

200 DOW points or SP? Hope it's not SP, I'll lose a lot of money. If it's DOW that's almost 2% move, it would suck but nothing to write home about.

IWM outperformed SP but Nasdaq underperformed. Will do nothing here. I will give Nasdaq another day to catch-up or else I'll get out.

That's what it looks like, maybe futures is not for me. Or, I could just play futures from the long side as with stocks. I do not think that I will do index options because I was taught to sell it only and not buy it. I do not think that I will start selling options now.

I'm still long SPY from yesterday. Need to see how today unfolds. If Nasdaq and IWM underperform SPY today, I'm out no matter whether we close up or down for the day. If Nasdaq and IWM outperform SPY today, I'll add to my longs and I'm done and will just wait for the upside trend to resume...

Jimmy: You're correct but it looks like we are looking at different things. I am looking at the cash index SP and Nasdaq and not ES or NQ. For Russell I use IWM though.

I have never used pivots. I usually look for the % change. If I'm long and SP is up 0.5% and Nasdaq is up 0.3% only, I'd like to get out. I have used this for a while and it seems to work, I miss few opportunities but the winners are big and the losses are small. If you look at my post from...